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BBVA is committed to ensuring continued access to banking services as it seeks to alleviate concerns from authorities regarding its potential acquisition of Banco Sabadell SA. The Spanish antitrust authority, CNMC, has extended its review of the deal, focusing on potential impacts on financial conditions for small and mid-sized businesses.
Spain's antitrust agency, CNMC, has initiated an in-depth Phase 2 review of BBVA SA's bid to acquire Banco Sabadell SA, delaying the decision by several months. This phase allows for third-party opinions and enables Sabadell to present its arguments, which were not permitted earlier.
Banco Sabadell SA reported a net income of €503 million ($546 million) for the third quarter, surpassing analyst expectations of €454 million. This strong performance comes as the bank works to fend off a potential takeover by rival BBVA SA.
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